Complaint Review: Lloyd's Asset Management LLC

I met Mr. Robert Menzel over the telephone. He introduces himself as a experience comodities broker, I am very skeptical of brokers who use the telepone and referrals to get clients, but after numerous weeks of conversations and long chats on the pros, and cons (no pun intended here) of comodities trading, he has me convinced that opening a new account would be quite beneficial to me. This guy is good at what he does. He uses the world news and world markets to drive home his points. He had me conviced that an initial investment of 5,000 dollars would give me a GREAT return profit given the current position of the US dollar. I elected to make a rather modest investment of 5000 dollars USD.

He wanted the larger sum, but after some explanation we agreed on 5000 USD. He never told me that his commission fee is a full 1500 USD right off the top, so my small investment dwindles to a mere 3500 USD. He calls me every day with reports on the trades while all the time assuring me how well my investment has grown. Then, the calls cease. Mr Menzel and then Mr. Robert Stropp (another brliker?) use every opportunity to encourage further investment. I remain very skeptical. On the day that I had decided to sell my holdings, I try to call to the home office and beg to speak with my or ANY broker. I kept calling back three times a day for 3 days without any return calls. Lloyds Asset Management and Mr. Robert Stropp FINALLY called me back when I filed a BBB complaint (2 days after filing).   After some pressure, I am supposed to be remitted my funds and the account closed ----thankfully so!